REG - Upland Resources Ltd - Shareholder Monthly Update

Upland ResourcesAnnouncement

28/03/2024 07:00

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RNS Number : 6047I  Upland Resources Limited  28 March 2024

 

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28 March 2024

 

 

 

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

 

Block SK334 Monthly Update

 

Upland Resources Limited (LSE: UPL) is pleased to announce-further to the
update on 5(th) February

2024 in relation to the Sarawak Block SK334 exploration campaign that the
current monthly shareholder progress report is now accessible on the Company's
website at the following link:

 

https://upland.energy/presentations/ (https://upland.energy/presentations/)

 

 

SK334 Exploration: Progress Report & Next Steps

 

·    Drill crew & Project teams identified, contracts under review.

·    Onshore drilling rig Inspection completed on 26th February 2024 at
Sviadnov, Czech Republic, as part of SK334 drilling rig selection and
operational preparation.

·    Pre-drill work programme developed for accelerated drilling
programme.

·    Commencement of formal farm-out proceeding with interest from
strategics reviewed, shortlist now being finalised.

·    Planning & scheduling of anticipated works with PETROS.

·    Engagement on PSC work scope with PETROS.

 

 

Following a successful week spent in Sarawak in March progressing and
finalising the PSC framework, and further to the announcement made on 5(th)
February, Upland and PETROS are now in the final stages of deliberations on
the PSC award and framework.

 

Additionally, Upland acknowledges the surrender of Offshore UK Licence P2478
to the UK North Sea Transition Authority ("NSTA") on 31 March 2024, this is
not unexpected and was designated a non-core asset by the company.

 

 Bolhassan Di, Upland Chairman and CEO commented:

 

"Full focus is now on our intended high impact drill campaign onshore Sarawak.
We look forward to updating the market on the lead prospects for Block SK334
as well as licencing and contracting arrangements in the coming weeks as we
scale up development on Block SK334 in Sarawak."

 

**ENDS**

 

 

 

For further information, please contact:

 

 Upland Resources Limited         Tel: +60 198 861 919

 Bolhassan Di, Chairman and CEO   bolhassan@uplandbigoil.com.my (mailto:bolhassan@uplandbigoil.com.my)

 Gerry Murray, COO                gerry.murray@upland.energy

 Optiva Securities - Broker       Tel:  +44 (0)20 3137 1903

                                christian.dennis@optivasecurities.com
 Christian Dennis                 (mailto:christian.dennis@optivasecurities.com)
 (Corporate Broker)

                                  www.optivasecurities.com (http://www.optivasecurities.com/)

 

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